CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6330 R1-6250 S1-6100 S2-6020
Crude oil gained as worries over escalating geopolitical tension balanced by expectations of large draws in U.S. oil stockpiles.
Easing worries over Iraq oil supplies and weak physical demand from refiners struggling with low processing profits limited upside.
Libya's output reached around 555,000 barrels per day last week, despite a slight reduction in output at the El Feel oilfield.
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